Editor's Note: Below is a brief excerpt and chart from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.
In terms of contextualizing the most recent US economic data, I can do that both accurately and quickly:
- Last week’s US Durable Goods report (ex-aircraft & defense) was up +6.5% year-over-year in OCT = 37 month high
- Last week’s US Capex report was up an impressive +8.1% year-over-year in OCT = just off 65 month highs
- Yesterday’s US New Home Sales report was +18.7% year-over-year = 10 year highs
New Homes, Capital Expenditures, and Durable Goods demand #accelerating (great proxy for household spending on big ticket items) are hardly the “soft data” points that US growth bears spent most of JAN-JUL of 2017 whining about.
